Foreign Affiliates Sharing Pilot Program Extension Act

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Dec 13, 2023

Foreign Affiliates Sharing Pilot Program Extension Act This bill extends a pilot program that allows financial institutions to share suspicious activity reports with foreign affiliates for the purpose of combatting illicit financial activity. Currently, the program has not been implemented and is set to terminate January 1, 2024. The bill extends the termination date to three years after the Department of the Treasury issues rules for the pilot program.